NAGAHAT TEA ESTATE PRIVATE LIMITED,KOLKATA vs. INCOME TAX OFFICER WARD -1, JORHAT

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Disallowance of Rs 3,84,594/- u/s 36(1) (va) is against the CBDT Circular No. 37 of 2016 dated 02.11.2016. 10. That appellant reiterates all the grounds of appeal agitated before the Ld. ADDL/JCIT (A) FARIDABAD, NFAC. 11. The appellant craves leave to add, alter, amend or vary from the above grounds of appeal on or before the time

NAGAHAT TEA ESTATE PRIVATE LIMITED,KOLKATA vs. INCOME TAX OFFICER WARD -1, JORHAT

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Disallowance of Rs 3,84,594/- u/s 36(1) (va) is against the CBDT Circular No. 37 of 2016 dated 02.11.2016. 10. That appellant reiterates all the grounds of appeal agitated before the Ld. ADDL/JCIT (A) FARIDABAD, NFAC. 11. The appellant craves leave to add, alter, amend or vary from the above grounds of appeal on or before the time

PLASCOM INDUSTRIES LLP,KOLKATA vs. THE INCOME TAX OFFICER, WARD-1(3), GUWAHATI

In the result, appeal of the assessee is allowed

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI LAXMI PRASAD SAHU (Accountant Member)

10% of Rs 24,40,20,802/- le. Rs.2,44,02,080/- should not be disallowed as over valuation of sales and undervaluation of purchase from related parties transactions and reduced from the claim for deduction u/s.801E of the IT Act and taxed as regular income as per provisions of section 801E(6) r.w.s. 801A